I don’t envy the new administration, therefore,” he said. But first, it must put up a strong team that is dedicated to altering the economic structure in order to manage the economy.
Professor Akpan Ekpo, an economist, has bemoaned the plight of the Nigerian economy and called for the next administration to act quickly to address the problems.
The future administration would have a lot of work to do, he claimed, because all microeconomic indexes are now moving in the wrong way.
While answering questions on Channels Television’s Sunrise Daily on Thursday, he remarked, “First, let me say I don’t envy the next administration since it is going to inherit an economy that is almost in chaos.”
There are several obstacles. The difficulties must thus be handled by the incoming government. So, it would take over an economy that hasn’t done well in at least the previous five years.
According to the public policy expert, the economy of the country is facing a number of difficulties, including poverty, underemployment, growing young unemployment, a shortfall in infrastructure, and a lack of reliable power.
I don’t envy the new administration, therefore,” he said. But first, it must put up a strong team that is dedicated to altering the economic structure in order to manage the economy.
With “Hit the Ground Running,”
He pleaded with the incoming administration, which is scheduled to take office on May 29, 2023, to be open and transparent with Nigerians about the health of the economy, which he claimed was not performing to its full capacity.
“I think whomever comes on should warn Nigerians that the difficulty would not disappear in a short time and that it would take a lot of time for it to start showing some positive outcomes if the next administration is on the correct road,” Professor Akpan continued.
The new administration should “strike the ground running” in addressing young unemployment, among other issues, according to him.
As a result, he said, “that administration needs to hit the ground running and I hope they are ready for it.” He added that the nation’s “poor has risen.”
He gave the previous administration a worse ranking than President Muhammadu Buhari’s administration in terms of managing the economy.
The instructor from the University of Uyo replied, “Well, in terms of the economy, the administration has obviously not fared well. “The evidence demonstrates that they have not done well. The micro indexes are all trending the wrong way. So, such economy is unable to function well.
